Can you have a LISA & Still pay into a normal existing ISA
Martin92
Posts: 24 Forumite
Hi everyone,
I recently opened a LISA with Money Box which I am paying 'X' amount into a week.
However I have an existing ISA which I HAVE NOT paid into this year, but would like to pay some money into it.
I have not opened another ISA this year...only a LISA...
Would this be a problem?
Thanks for your help in advance
I recently opened a LISA with Money Box which I am paying 'X' amount into a week.
However I have an existing ISA which I HAVE NOT paid into this year, but would like to pay some money into it.
I have not opened another ISA this year...only a LISA...
Would this be a problem?
Thanks for your help in advance
0
Comments
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Dates of opening aren't significant for this purpose, in that the rule is about which you can pay into in any given tax year - you can pay into multiple ISAs as long as it's no more than one of any given type, as per https://www.gov.uk/individual-savings-accounts:There are 4 types of ISA:
- cash ISAs
- stocks and shares ISAs
- innovative finance ISAs
- Lifetime ISAs
0 -
Dates of opening aren't significant for this purpose, in that the rule is about which you can pay into in any given tax year - you can pay into multiple ISAs as long as it's no more than one of any given type, as per https://www.gov.uk/individual-savings-accounts:
Just to add to the above you can invest in more than one cash isa each year - including a help to buy isa - if you invest with a split isa provider (e.g. Nationwide, RBS/Natwest, Aldermore etc).0 -
So hypothetically, if I opened up a LISA last month, I can open up a Cash ISA too, as long as the total in both is not above £20,000 ? or does it only apply to already opened ISAs?0
-
So hypothetically, if I opened up a LISA last month, I can open up a Cash ISA too, as long as the total in both is not above £20,000 ? or does it only apply to already opened ISAs?0
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